Imagine a U.S. citizen who writes off business expenses when filing their annual federal income tax return. They don't make a profit for three years, but before the IRS declares their business a hobby they finally make a profit, two years in a row. So they are allowed to continue deducting business expenses.
However, the next year they once again don't make a profit.
Here's my question: After a business has recorded a profit, for how many years can the owner continue writing off business expenses even though the business isn't profitable that particular year?
For example, if a person makes a profit in 2000, then does NOT make a profit for each of the five following years, would that person be allowed to continue writing off business expenses?